If you are looking for a small business loan and your business is based in Hermosa Beach, California, we've assembled a list of local small business banks that you should contact.
Banks that Lend to Hermosa Beach Businesses
This is a list of banks outside of Hermosa Beach, California that have provided SBA loans to Hermosa Beach businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Alliance Bank
Culver City, CA |
2 |
Banco Popular North America
New York City, NY |
1 |
Bank Of America
Charlotte, NC |
13 |
Bay Cities National Bank
Redondo Beach, CA |
3 |
Beach Business Bank
Manhattan Beach, CA |
1 |
California Bank & Trust
Sacramento, CA |
1 |
Capital One
Mclean, VA |
1 |
Cathay Bank
Los Angeles, CA |
1 |
Center Bank
Los Angeles, CA |
1 |
Cit Small Business Lending Corp
Livingston, NJ |
1 |
Citibank
Las Vegas, NV |
2 |
Comerica Bank
Dallas, TX |
1 |
East West Bank
Pasadena, CA |
1 |
First Bank
Creve Coeur, MO |
1 |
Gateway Business Bank
Cerritos, CA |
1 |
Hanmi Bank
Los Angeles, CA |
2 |
Innovative Bank
Oakland, CA |
4 |
Manufacturers Bank
Los Angeles, CA |
1 |
Pacific City Bank
Los Angeles, CA |
1 |
Pacific Premier Bank
Costa Mesa, CA |
1 |
Spectrum Bank
Irvine, CA |
1 |
Telesis Community Cu
Chatsworth, CA |
1 |
U.S. Bank National Association
Cincinnati, OH |
3 |
Union Bank Of California
San Francisco, CA |
1 |
Washington Mutual Bank
Henderson, NV |
3 |
Wells Fargo Bank
San Jose, CA |
4 |
Wells Fargo Bank
Sioux Falls, SD |
1 |
Wilshire State Bank
Los Angeles, CA |
2 |
Business Loan Advice for Hermosa Beach Businesses
Before contacting banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.
You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the loan back to the bank.
A well-defined business plan is an important prerequisite. If the capital is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss what collateral you have available to secure the loan. Collateral is relevant because banks always
want to be prepared for a worst-case scenario in which cash flow from the business does not meet your projections.
If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report in any case, so hopefully you have good credit history
-- you may want to get a copy of your credit history prior to meeting with the banker.
Many of the banks in our list participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to read up on on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.
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